The KraneShares Global Carbon Transformation ETF (KGHG) is designed to allocate its assets primarily to publicly traded equities and equivalent depositary instruments. Its core strategy involves investing in a global universe of companies, encompassing firms domiciled in the U. S., other developed nations, and emerging economies, specifically those identified as "Carbon Emissions Reducers." The fund's adviser actively seeks out these decarbonization-focused enterprises across a broad spectrum of industries, sectors, and market capitalizations.